EV Industry

By the close of trading, Nio was down 14.14 percent in Hong Kong, Xpeng was down 22.2 percent, and Li Auto was down 19.6 percent. The Hang Seng Tech Index plunged 11.03 percent, the biggest one-day drop.

Shares of Evergrande NEV Group traded in Hong Kong have pulled back about 96 percent from their all-time high at the end of February last year.

Niutron is currently gearing up for the model's launch and has opened a flash store in Beijing with a show car in the store.

That was higher than the 214 units of the Mercedes-Benz EQC, 83 units of the Audi e-tron and 48 units of the BMW iX.

The dialogue and consultation between Chinese and US regulators on regulatory cooperation on auditing are progressing well, and both sides have demonstrated their sincerity in being willing to solve problems, local media said.

February sales of pure electric passenger cars were 246,000 units, up 154.5 percent year-on-year, while sales of plug-in hybrids were 75,000 units, up 338.6 percent year-on-year.

WM Motor did not release delivery figures for most months last year, and this January's deliveries are so far unknown.

CICC believes that a nickel price increase from $20,000 to $50,000 per ton would increase the cost of an EV with a 60-kWh battery pack by about $1,580.

The penetration rate of NEVs in wholesale sales in February was 21.8 percent, up 12.2 percentage points from 9.6 percent in February 2021.

Country Garden's venture capital arm has invested in Chongqing Talent, which is building a 200 MWh automated production line for solid-state lithium batteries in Chongqing.